PODGORICA (Montenegro), April 24 (SeeNews) – Flag carrier Montenegro Airlines saw its net loss widen to 11.5 million euro ($12.5 million) in 2016 from 10.4 million euro in the previous year, data from the company's financial statement showed.
The air carrier's revenue went down 3.4% to 65.4 million euro while operating costs rose 2.9% to 75.6 million euro, it said in a financial statement posted on the website of Montenegrin Securities Commission.
Operating loss widened to 10.2 million euro in 2016 from 5.8 million euro, Montenegro Airlines said.
Following are details of Montenegro Airlines' performance (in millions of euros):
|
2016 |
2015 |
Operating costs |
75.604 |
73.495 |
Revenue |
65.376 |
67.707 |
Operating profit/loss |
-10.228 |
-5.787 |
Net profit/loss |
-11.474 |
-10.386 |
Montenegro Airlines handled 581,519 passengers in 2016, up 0.6%. The number of flights fell 8.7% to 8,607 in 2016.
In February, the Montenegrin government said it decided not to put Montenegro Airlines on the list of state companies slated for privatisation in 2017 as no strategic investor has shown interest in acquiring the air carrier.
($ = 0.9199 euro)